As far as I know, free markets rely on well-informed consumers. If this is the case, shouldn't an efficient free market provide consumers as much information as possible about a product so that the consumer can accurately tell the market what they want?
E.g., some people pay more for organic milk. They know which product is organic since it's labelled. What people might not know is whether or not organic milk produces more Co2e to produce per litre. Assuming for the sake of the question that organic milk is more carbon intensive due to reduced yields, how are consumers supposed to know this and weigh up whether they care more about greenhouse gas emissions or animal welfare when buying milk?
Or to take another example. The difference between top-end smartphones is basically the same, but if one product's supply-chain information included "made with child labour and Uigher slaves in concentration camps", people could factor that into their purchasing decision.
I'm not a well-informed consumer. I know I'm not, but there's not a lot I can do about it. (How am I, as a consumer, supposed to find out whether the pair of jeans I'm about to buy is made of cotton from a plantation which is destroying the Aral sea?) But I thought the free market relied on well-informed consumers pushing the market in certain directions. If that's the case, shouldn't products be accompanied with as much information as possible so consumers can make the best choice?
Obviously companies won't advertise the fact they use slave labour voluntarily, so shouldn't an efficient free market be accompanied by the kind of regulation which makes this idea of maximum information possible?